Mubarak: World’s Richest Man?

The New York Post picks up a Guardian report that embattled Egyptian President Hosni Mubarak could be the richest man in the world. Worth about $70 billion, the Post says most of his money is stashed in foreign bank accounts and “shadowy real-estate holdings.” That sum makes Mubarak more wealthy than Mexico’s Carlos Slim and … Continued

Mercedes relaunches premium Maybach in India

German carmaker Mercedes Benz reintroduced its hyper-luxury Maybach car in India on Tuesday, pitching it at the country’s growing number of super-rich. The car, which can touch speeds of 275 kilometres (170 miles) an hour, will be priced at up to 51 million rupees ($1.1 million). “There are customers out there who can afford the … Continued

Larry Page Buys $45 Million Luxury Superyacht

Google’s billionaire cofounder Larry Page just bought a $45 million superyacht called Senses from a New Zealand business man named Sir Douglas Myers. The stylish 194-ft. expedition superyacht was designed by Kusch Yachts and built back in 1999 at Germany’s Schweers yard with a refit in 2010. The superyacht features interiors by design genius Philippe … Continued

The Eclipse Is Ready to Take Abramovich Out at Sea

After a year-long delay, Russian oligarch Roman Abramovich finally took delivery of the world’s largest and most expensive yacht, the Eclipse. The “gigayacht” measures anywhere from 533 ft. to 557 ft. (depending on reports), and is the world’s largest privately owned yacht. The cost of the behemoth has also been variously reported as $500 million … Continued

Black Eyed Peas for Abramovich NYE party

Russian billionaire Roman Abramovich is reportedly flying in the Black Eyed Peas to perform at his New Year’s Eve party in St Bart’s, the Telegraph reports. The Russian billionaire owns a $90 million, 70-acre estate on the Caribbean island and the hip hop band will perform for guests seeing in 2011 there. His estate in … Continued

$6.2M Birthday Party At French Ski Resort

Ukrainian billionaire Victor Pinchuk spent $6.2 million on Saturday night to entertain 300 guests at his 50th-birthday party in the posh French ski resort of Courchevel. He not only flew in Canada’s Cirque du Soleil but also hired superchef Alain Ducasse to prepare the menu at one of Courchevel’s 11 five-star hotels. But the steel … Continued

Macau Casino Magnate Buys Truffles for $330,000

Stanley Ho recently matched his own world record price paid for a truffle when he bought a couple white truffles for a total cost of $330,000 at a truffle auction. The billionaire made his winning bid through representatives at the event held at his own Grand Lisboa hotel in Macau last week end. Ho’s winning … Continued

Zong Qinghou of Wahaha tops 2010 China rich list

Hurun Research Institute has released the Hurun Rich List 2010, the twelfth annual ranking of the richest individuals in China. The list names 1,363 individuals with a personal wealth of 1 billion yuan (US$150 million), up from 1,000 last year and just 24 a decade ago. China – the world’s second largest economy – has … Continued

No stop to rise of Asian millionaires

The ranks of Asia-Pacific millionaires are likely to continue growing faster than those from developed countries as regional economies led by China and India power ahead, a report said on Tuesday. The study on high-net-worth individuals (HNWIs) — defined as anyone with investable assets of at least one million US dollars — was issued by … Continued

Forbes 400: The Richest People in America

Forbes released its 2010 list of the 400 richest people in America this week, and Microsoft Chairman Bill Gates was in the top spot for the 17th consecutive year. Industrialist Warren Buffett, Chief Executive Officer of Berkshire Hathaway Inc, has bagged the second place this year with fortunes worth $45 billion. While worth $27 billion … Continued

Madonna Offered $1 Billion To Perform In Las Vegas

Queen of Pop Madonna has been offered the opportunity to stage a gig residency in Las Vegas, according to reports. The singer has apparently been approached about a five-year run of shows, which could earn her more than $1 billion, reports the Sun. The mega deal would make her the world’s third female billionaire entertainer, … Continued

Harvard tops Forbes list of Billionaire Universities

With 62 of its alumni now billionaires, Harvard tops Forbes’ list of ‘Billionaire Universities’, followed by Stanford that boasts of 28 billionaire graduates. The number of Harvard alumni who are billionaires swelled to 62, up from 54 in 2009, “more than any other American university by a long shot,” Forbes said. Harvard’s billionaire alumni are … Continued

Tycoons spend $2.6m on champagne in St Tropez

In what could be called as a lavish fight, a pair of rival billionaires set a new world record at a French nightclub to see who could order the most champagne. Zhen Low – the younger brother of big-spending Malaysian billionaire Jho Low – squared off against Winston Fisher of the prominent New York real-estate … Continued

Hong Kong prepares for life after the tycoons

Hong Kong’s billionaire tycoons enjoy a status close to royalty in Asia’s wealth-obsessed financial hub. The city’s richest man Li Ka-shing has the fame of a movie star, while the court case involving the will of eccentric pig-tailed billionaire Nina Wang last year enthralled Hong Kong with its brew of sex, money and power. But … Continued

Paul Allen to Give Away Half of His Fortune

Microsoft co-founder Paul Allen, who is rated by Forbes magazine as the world’s 37th richest person, plans to give away most of his $13.5 billion fortune. In the statement, Allen said his estate would support causes including not-for-profit scientific research such as the Allen Institute for Brain Science. His declaration came a month after Gates … Continued

World’s richest man aims for a simple life

Mexican tycoon Carlos Slim may be the world’s richest man but he limits his monthly salary to $24,000 and travels in a Suburban, according to his biography. Mr Slim, 70, knocked Bill Gates form the top of the Forbes list of the world’s billionaires this year with an estimated fortune of US$53.5 billion. He began … Continued

Asia millionaires worth more than Europeans

Asia-Pacific millionaires are collectively worth more than their European counterparts for the first time, with the rich in China and India leading the way. The report on high-net worth individuals (HNWIs) — defined as anyone with investible assets of at least one million US dollars — was issued by Merrill Lynch Global Wealth Management and … Continued

Buffett Lunch Auction Fetches Record $2.6 Million

Warren Buffett’s lunch auction rose to a record of $2.63 million in the 11th annual charity fundraiser. That’s about 24 percent higher than the previous record, set in 2008 when hedge-fund manager Zhao Danyang of Hong Kong paid $2.11 million. The chance to have lunch with the celebrated billionaire investor drew nine bidders and 77 … Continued

World’s top 10 most expensive marinas

Italy is the most expensive place in the world to berth a super-yacht, where it can cost up to €2,900 a night to moor a 24 metre-plus boat. The Italian resorts of Capri, Porto Cervo and Portofino topped Wealth Bulletin’s annual survey of the most expensive resorts in the world to berth a super-yacht. Experts … Continued

China’s mainland has over 875,000 multimillionaires

The Hurun Research Institute published the 2010 Hurun Wealth Report today for the second consecutive year. The report analyses the number and distribution of China’s wealthy across the nation’s major cities and provinces. The report shows that there are 875,000 people with more than RMB 10million (EUR 1.1M / USD 1.47M) in China today, an … Continued